We have some minor buying to start the day. It isn't very aggressive, but breadth is running 3,450 gainers to 1,350 decliners, and financials are showing some life for a change. I suspect that there is some nervousness about the possibility of negative news out of Europe, but for the moment, that is on the back burner, and the bulls are inching in.
I have little confidence that we will have sustained upside, but there is enough strength to justify putting some capital to work. We'll have to keep tight stops on things and take some profits quickly when we have them, but the momentum is building a bit now.
Finding attractive buys is not easy, but I'm inching into some Universal Display (PANL), which has formed a high level of base and is testing the upper end of it now. I continue to accumulate VirnetX Holding (VHC), the patent play which I think will perform well as the InterDigital (IDCC) auction heats up. CVR Partners (UAN), which I mentioned yesterday, is showing signs of life again today.